Bryan city council members award $48 million dollars in long term financing.
$20 million is going towards the city’s new indoor tennis center at Midtown Park, $22.3 million for street and drainage projects, and $5.7 million for airport improvements.
The city’s chief financial officer and the council’s third party financial advisors brought up the benefits resulting from a recent improvement in the city’s bond rating to “double A plus”.
Consultant Paul Jasin was among those saying he had never seen 14 bids pursue purchasing long term debt.
The improved bond rating resulted in a lower interest rate which Jasin said would save $2 million dollars in total debt service.
Click below to hear comments from the March 5, 2024 Bryan city council meeting.